10.07.201304:45:53UTC+00Japan stocks advance as Australia, Korea shift back and forth

Australian stocks marched higher on Wednesday trading action after U.S. equities acquired a fourth straight day of gains, while Japanese shares wavered one day ahead of the central bank’s decision on financial policy.

Australia’s S&P/ASX 200 boosted 0.9%, while South Korea’s Kospi moved back 0.3%, also turning choppy ahead of the Bank of Korea’s decision on interest rates due Thursday.

The Nikkei Stock Average advanced 0.3% in choppy trading in Tokyo that saw the benchmark decline earlier in the morning. The Nikkei Average had finished at a six-week high on Tuesday.

U.S. stocks extended their rally Tuesday on a developing economic outlook, pushing the Standard & Poor’s 500 Index closer toward its all-time high, with commodity prices also booking gains overnight.

Energy shares gained as U.S. benchmark oil prices ended at their best level in 14 months. Following those gains, Australia’s Origin Energy Ltd. surged 1.4%, and Woodside Petroleum Ltd. jumped 1% in Sydney, while Inpex Corp. climbed 0.2% in Tokyo.

Australian miners also spiked after aluminum producer Alcoa Inc. played down concerns about a slowdown in China and as gold prices increase for a second day.

BHP Billiton Ltd. and Rio Tinto Ltd. traded higher by 1.9% each, and Alumina Ltd. uptrend 2.4%.

Meanwhile, the Tokyo market was weighed by a decline in some technology shares after recent advances.

Shares of Trend Micro Inc. missed 1.7%, and Toshiba Corp. eased 1%.

Gains for consumer and retail stocks supported the market, however, with Suntory Beverage & Food Ltd. exchanging 3% more, and Asahi Group Holdings Ltd. leaping 1.5%.

Shares of retailer Aeon Co. recorded a 2.3% increase after reporting a hike in its quarterly earnings.